The demand curve for a perfectly competitive industry is

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The demand curve for a perfectly competitive industry is downward sloping. This is because in a perfectly competitive market, there are many sellers offering homogenous products, and as such, consumers have a range of options to choose from. If one seller raises their price too high, consumers will just switch to a competitor's product. As a result, any individual firm faces a downward-sloping demand curve for its product, as it can only sell more units of its good if it lowers its price.

The Demand Curve for a Perfectly Competitive Industry Is